SEOUL, May 17 (Korea Bizwire) — Kumho Petrochemical said Wednesday it has signed an initial pact with two Japanese firms to secure a key biomaterial needed for tire manufacturing from Japan. Kumho Petrochemical signed a memorandum of understanding (MOU) on the supply of bio-styrene monomer (bio-SM) with oil and petrochemical firm Idemitsu Kosan and Sumitomo [...]
SEOUL, May 11 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it expects to generate at least 7 trillion won (US$5.26 billion) in annual revenue from its secondary battery components segment by 2030, as the recent acquisition of a local copper foil maker and other projects for a green transition will take hold. “We think [...]
SEOUL, May 4 (Korea Bizwire) — CJ Cheiljedang Corp., a major South Korean food manufacturer, said Thursday its biocompatible polyester material has received approval from the U.S. Food and Drug Administration (FDA) for use as food packaging material. CJ Cheiljedang said the FDA’s approval of amorphous polyhydroxyalkanoate (PHA) — a softer and more rubbery version [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd. said Thursday its first operating quarter profit shrank 22.8 percent from a year earlier as a global economic slowdown dampened petrochemical demand in major industries. Operating profit reached 791 billion won (US$592 million) in the January-March period, compared with 1.02 trillion won the previous year, the [...]
SEOUL, April 20 (Korea Bizwire) — The South Korean government will earmark 28 billion won (US$21.09 million) over the next four years to support corporate development of fine chemicals for the semiconductor, display and secondary battery fields, the industry ministry said Thursday. The government will choose companies this year that will take part in the [...]
SEJONG, April 17 (Korea Bizwire) —POSCO FutureM, a company developing secondary battery materials as a core business for the future, has provided its core workforce with shares worth 800 million won (US$609,000). The shares were given to key employees as restricted stock units (RSUs), and the employees can dispose of them only if they fulfill [...]
SEOUL, April 14 (Korea Bizwire) —LG Chem, a South Korean chemical company, and China’s Huayu Cobalt have announced plans to build a joint battery precursor plant in Saemangeum, South Korea. The goal of the partnership is to bolster the domestic supply chain for battery materials in Korea in anticipation of the implementation of the U.S. [...]
SEOUL, April 13 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical company, said Thursday it has entered an agreement with a U.S. renewable chemical firm to develop and commercialize a raw material for bioplastics. LG Chem signed the joint development agreement (JDA) with Gevo Inc., a Colorado-headquartered developer of renewable chemicals and biofuels, [...]
SEOUL, April 12 (Korea Bizwire) — Optical film manufacturer Sangbo Corp. announced that it has developed a special film that selectively prevents cigarette ads in convenience stores from being viewed from outside. The company completed a patent application and established a mass-production system for the target blocking (TB) film after developing it. The TB film’s [...]
SEOUL, March 30 (Korea Bizwire) – LG Chem Ltd., a leading chemical producer in South Korea, said Thursday that it began the 310 billion-won (US$238 million) project to build facilities for plastic recycling and producing a next-generation thermal insulator component. The envisioned plastic pyrolysis plant in the city of Dangjin, some 78 kilometers southwest of Seoul, will [...]